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Merrill keeps Gilead at neutral
Gilead Sciences Inc. was maintained at neutral by Merrill Lynch analyst Eric Ende as the model for triple combo revenue was updated. Approval of the triple combo pill of Truvada and Sustiva should not impact Gilead's earnings per share, according to the analyst. While the triple combo will increase revenues, cost of goods will increase by an equal amount. Merrill forecasts revenues in the HIV franchise will increase by about $350 million in 2007 and $500 million in 2008. Shares of the Foster City, Calif.-based biopharmaceutical company were up $1.65, or 2.90%, at $58.59 on volume of 5,791,041 shares versus the three-month running average of 5,095,500 shares. (Nasdaq: GILD)
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